Owen Raskovich

And we've got potentially tens of thousands of listeners to these podcasts.

And we know from certain studies that perhaps not everyone follows the knowledge that they learn or that put it to use.

So we are hoping that some of the knowledge you acquire can be distilled down into these five really important steps that you can take today.

And the first one off our list is a very simple one and it's kind of boring, but it's probably the most important.

It is to pay down debt.

And one of the things that we've talked about

time and again, the different strategies that you can use to pay down debt.

And my favorite is the snowball, and it's a very popular technique.

And it effectively just requires you to identify the credit card, the afterpay, or the debt that you have.

Maybe it's a debt to a family member.

You identify the one that is charging the most interest, but it's also the lowest in value.

So for example, if you had a loan or a

you'd pay that one down before you pay down the one that's $10,000 in charge and you're 10% interest.

And this way you get that really good feel good effect after you knock one over.

And then you can move on to the bigger one after you've done that and you've closed the account, you've cut up your card, et cetera.

And then you can move on to the bigger one after that if you have to go around again.

So it's called the snowball effect.

And we talked about it in our episode way back in the beginning.

Absolutely.

And another thing, which is kind of a simple step, is to consolidate debts.